Pharmacy Practice Essentials: Management, Leadership, & Pharmacoeconomics, Exams of Pharmacy

A comprehensive set of questions and answers related to advanced pharmacy practice, covering key areas such as management, leadership, pharmacoeconomics, and reimbursement strategies. It explores concepts like leadership styles, quality of life measurements, pharmacoeconomic analysis, and healthcare payer systems. Valuable for pharmacy students and professionals seeking to enhance their understanding of these critical aspects of the field.

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2024/2025

Available from 04/12/2025

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Advanced Pharmacy Practice Questions with Correct Solved Solutions
1. Manager description: (process-focused): role or title, organizes and plans, over- sees operations,
ensures completion, controls budgets, resources, and policies
2. Overlap of manager and leadership description: adapts to change, sets goals, solves problems,
communicates well, integrity, resolves conflicts, makes decisions
3. Leadership description: (people-focused): inspires and motivates, builds rela- tionships, team
culture, empowers team members, coaches and develops talent, encourages innovation vision and
change
4. Leadership styles: Coercive (immediate compliance), transformational (contin- uous improvement),
affiliative (relationship-focused, harmony), democratic (forges consensus through participation),
pacesetting (sets high standards), coaching (de- velops people for the future)
5. How to develop management skills?: Provide regular feedback, organization, monitor progress, set
clear targets
6. How to develop leadership skills?: Big L vs little l, listen actively, acknowledge efforts, communicate
vision, empower others
7. Leadership principles: Leading up, across, down
8. ECHO framework: economic, clinical, humanistic outcomes
9. Measurements of health: Quality of life (QoL) and Health-related quality of life (HRQoL)
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Advanced Pharmacy Practice Questions with Correct Solved Solutions

1. Manager description: (process-focused): role or title, organizes and plans, over- sees operations,

ensures completion, controls budgets, resources, and policies

2. Overlap of manager and leadership description: adapts to change, sets goals, solves problems,

communicates well, integrity, resolves conflicts, makes decisions

3. Leadership description: (people-focused): inspires and motivates, builds rela- tionships, team

culture, empowers team members, coaches and develops talent, encourages innovation vision and change

4. Leadership styles: Coercive (immediate compliance), transformational (contin- uous improvement),

affiliative (relationship-focused, harmony), democratic (forges consensus through participation), pacesetting (sets high standards), coaching (de- velops people for the future)

5. How to develop management skills?: Provide regular feedback, organization, monitor progress, set

clear targets

6. How to develop leadership skills?: Big L vs little l, listen actively, acknowledge efforts, communicate

vision, empower others

7. Leadership principles: Leading up, across, down

8. ECHO framework: economic, clinical, humanistic outcomes

9. Measurements of health: Quality of life (QoL) and Health-related quality of life (HRQoL)

10. QoL: broad, peoples overall perception of their life, health and non-health related aspects

11. HRQoL: part of overall QoL, related to effect of illness and tx on their health (attempts to

quantify patient perception of health)

12. Conceptual model of measurement: physical functioning (observable limita- tions or disability),

psychological functioning, social functioning (participation and satisfaction), role functioning (duties and responsibilities limited by health), general health perception

13. Components of emotional intelligence: Self-awareness, self-management, social awareness,

relationship management

14. Reliability: consistently measures the same effect - test-retest reliability (similar when no change in

health), internal consistency (correlation between responses), interrater reliability (between two providers on one patient)

15. Validity: Accurately measures - content (face) validity (requires standard/com- parator), criterion

(predictive) validity (predicts health outcomes), construct validity (concept, assumptions, variable)

16. Responsiveness: ability to detect clinically relevant changes and respond to changes

17. Real World data: aid in decision making for large population, most pharma- coeconomic analysis,

high external validity, lack controls, generalizable/transferable

18. RCTs: specific patient population, under relatively ideal conditions, high internal validity, limited

generalizability

19. Pharmacoeconomics: cost and outcomes of the use of drugs and services to health care system

32. CBA: cost-benefit analysis

33. CUA: cost utility analysis

34. COI: cost of illness: determines the total healthcare costs of a specific disease

35. CCA: cost consequence analysis: evaluates results of different costs and effects separately;

decision-markers

36. Direct medical costs: medication, medical care, supplies - tangible

37. Direct non-medical costs: travel to receive healthcare, child care services, food/hotel stays

(family or patient) - tangible

38. Indirect costs: loss wages, missed days of work/school, loss of productivity - tangible

39. Intangible costs: often measured and valued through utility or willingness to pay - result of

pain, suffering, anxiety, fatigue due to illness or tx

40. Common sources of cost data: personnel, hospitalizations (per diem, disease specific per diem, dx

related group - DRG), micro-costing

41. Importance of reimbursement: Pharmacy services add value but require finan- cial sustainability,

without it, service expansion is difficult (payment = opportunity), understanding it ensures long-term practice viability

42. Healthcare payers: Medicare, medicaid, commercial

43. Medicare: federal program for 65 and older, disabilities, end-stage disease

44. Medicaid: state program for low-income

45. Commercial: private health sector plans not provided by government

46. Medicare part B: MTM, immunizations, pharmacist-provided services

47. Medicare part D: rx drugs, certain services like MTM

48. Medicaid coverage: MTM, immunizations, disease state management (de- pending on the

state)

49. Regulatory compliance considerations in medicare and medicaid billing-

: proper documentation and adherence to applicable billing codes (CPT codes for services)

50. Risk management considerations for audits and claim denials: may audit claims to verify service

eligibility

51. Value-based reimbursement: pay-for-performance, medicare star ratings, quality metrics,

employment of provider and only level 1 visits

60. Additional revenue opportunities beyond incident-to billing and MTM ser- vices: shared visits with

a provider: increases E/M complexity for high reimbursement; value-based purchasing: initial and subsequent annual wellness visits, tran- sitional care management, chronic care management (CCM), comprehensive med- ication management (CMM), employer-based wellness clinics

61. Reimbursment in community setting: incident-to provider billing: billing as an extender of

physician, must have formal employment relationship and be in same location; collaboration with clinic-based providers via CCM billing (2+ conditions), med management, contract-based chargers (monthly fee)

62. Hiring process is highly regulated by:: both state and federal laws enforced by the equal

employment opportunity commission (EEOC- federal)

63. Age discrimination in employment act of 1967: protects those 40 years and older

64. Civil right act: religion, race, gender, sexual preference, etc.

65. Other relevant laws in HR: pregnancy discrimination act, equal pay act, ameri- cans with

disabilities act (ADA), fair labor standards act (FLSA), occupational safety and health act (OSHA), title VII of the civil right act, family medical leave act (FMLA), equal opportunity act

66. STAR-L method: situation, task, action, results, lesson learned

67. SHARE method: situation, hindrance, action, results, evaluation

68. Performance improvement plan (PIP): formal document made by supervisor, date and signed by

employee and manager, if not passed --> formal disciplinary action, progress should be made within 30-90 days

69. Components of a business plan: (EBSMMPMFTE) executive summary, back- ground and

description of the proposed program or service, SWOT analysis, market analysis, market plan/strategy, process of service, management and organization, financial sustainability, timeline and action plan for service rollout, evaluation of goals

70. Market analysis: overview, mission statement, market analysis (target audi- ence, needs

assessment), market plan, facility and equipment, management and organization, financial summary

71. SWOT analysis: strengths, weaknesses, opportunities, threats

72. SWOT analysis description: internal factors: strengths (highly skilled staff, strong relationships

with providers, advanced technology access) and weaknesses (limited financial resources, high staff turnover rates, lack of clear marketing strat- egy); external factors: opportunities (growing demand, grants, partnerships) and threats (competition, regulatory changes, economic downturn)

73. Direct benefits: cost savings (or avoided) due to intervention- medication re- source benefits

(decrease in physician visits, er visits, meds) or non-medical re- source benefits (less money spent on transportation)

74. Indirect benefits: Measures change in productivity commonly assessed using human capital

approach or willingness to pay (WTP) - pt can work due to avoided disability with an illness

75. Intangible benefits: measures reduction in pain, suffering, anxiety associated with illness,